REGISTERED NUMBER: 15892048 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2026

FOR

UNSET ELEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms J A Sibley

G J Erickson

REGISTERED OFFICE:

Cedar Swiffe Farm

Swife Lane

Broad Oak

Heathfield

TN21 8UR

REGISTERED NUMBER:

15892048 (England and Wales)

ACCOUNTANTS:

Honey Barrett Limited

Chartered Accountants

Pharmacy Chambers

High Street

Wadhurst

East Sussex

TN5 6AP

FIXED ASSETS

Tangible assets

5

-

664

CURRENT ASSETS

Stocks

6

-

13,133

Debtors

7

43

1,369

Cash at bank and in hand

10,335

9,888

10,378

24,390

CREDITORS

Amounts falling due within one year

8

7,109

24,085

NET CURRENT ASSETS

3,269

305

TOTAL ASSETS LESS CURRENT LIABILITIES

3,269

969

PROVISIONS FOR LIABILITIES

10

-

166

NET ASSETS

3,269

803

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

3,267

801

SHAREHOLDERS' FUNDS

3,269

803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2026 and were signed on its behalf by:

Ms J A Sibley - Director

G J Erickson - Director

1.	STATUTORY INFORMATION

Unset Element Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

20% on cost

All assets are initially recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and conditions.

At each reporting date, an assessment is made for the impairment due to obsolescence or slow movement. Any excess of the carrying amount of stocks over its estimates selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Going concern

The accounts have been prepared on a cessation basis due to the directors' decision to cease trading on 31 March 2026. An impairment review has been carried out on the assets of the company to value them at the lower of net book value and recoverable amount.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

5.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 April 2025

759

Disposals

(759

)

At 31 March 2026

-

DEPRECIATION

At 1 April 2025

95

Eliminated on disposal

(95

)

At 31 March 2026

-

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

664

6.

STOCKS

2026

2025

£

£

Stocks

-

13,133

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

-

994

Prepayments and accrued income

43

375

43

1,369

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Corporation tax

930

83

VAT

1,780

670

Directors' current accounts

2,903

19,998

Accruals and deferred income

1,496

3,334

7,109

24,085

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

-

4,775

The lease was reviewed in January 2026 and extended to expire on 31 March 2026.

10.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Accelerated capital allowances

-

166

Deferred

tax

£

Balance at 1 April 2025

166

Credit to Profit and loss account during year

(166

)

Balance at 31 March 2026

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

2

Ordinary

£1

2

2